Notes to SEFA
Accounting Policies: NOTE 1 BASIS OF PRESENTATIONThe accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the Federal grant activity of the National Association of Clean Air Agencies, Inc. (NACAA) under programs of the Federal government and is presented on the accrual basis of accounting for the year ended September 30, 2022. The information in the Schedule is presented in accordance with the requirements of the Office of Management and Budget (OMB) Uniform Guidance regulations. Because the Schedule presents only a selected portion of the operations of NACAA, it is not intended to and does not present the financial position, changes in net assets or cash flows of NACAA. NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESExpenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Costs Principles, and Audit Requirements for Federal Awards (Uniform Guidance), wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.